LAST CHANCE TO WIN AN IPHONE 8 Enter below by 31 October 2017 and a new iphone 8 could be yours!*
Well what a memorable end to last week (politically speaking) with the announcement of a new coalition Government between Labour and NZ First, with support from the Greens.
With changes ahead, how will the Government's new policies affect us as homeowners, investors or those looking to buy? Only time will truly tell - but with a focus on implementing Labour's KiwiBuild policy to build more affordable homes, and restricting foreign ownership of residential properties, the market will most certainly open up more doors for First Home Buyers and local investors. For existing homeowners, Ardern expects a slight "cooling in the existing market" but believes there won't be a significant effect in the value of existing homes. Let's hope this is indeed the case, and prices settle and remain stable.
The market has definitely slowed over the last few months in the lead up to the election - a common 'wait and see' trend seen in previous election years. We now anticipate a late Spring lift in listings and sales as we move into the seasonally more popular time for selling.
IN THIS ISSUE:
We shine the light on property investments, and share top tips from our expert on what to consider before and after buying one.
We've got a classic Kiwi beauty in this issue's 'Home of the week' - positioned on sizeable land, this property is a renovators dream!
As always, drop me a line if you're interested in finding out how the team and I can help. We'd love to hear from you.
Talk soon, Mickey
DON'T MISS OUTon your chance to be in to win an iphone 8 64GB! Simply answer the following local knowledge questions, and email us by 31 October 2017.*
1. Which suburb is home to the renowned and historic Chelsea Sugar Refinery?
b) Mairangi Bay
2. The Royal New Zealand Navy has its main base in which suburb?
b) Campbells Bay
3. If you're heading to the North Shore Stadium, you'll be going where?
* One entry per person. Email entries to email@example.com no later than 11.59pm on 31 October 2017. To be eligible to win, each answer must include the question number and corresponding letter which relates to the correct answer. Only residents living in New Zealand at the time of the draw are eligible to win. The prize is an iphone 8 64GB - phone colour can be chosen by the winner (as based on availability). The winner will be randomly drawn on 2 November 2017 and will be contacted by email within 3 working days. By entering this competition, the winner agrees to be referenced as a prize winner on my Facebook Business page and the next issue of 'Smart Move'.
Thinking of buying an investment property? There’s a lot to consider before buying a property to rent, and just as many factors to consider once brought. So it pays to talk to an expert… We asked Lara Mullane, Head of Property Development for Cooper & Co's North Shore Central Office to share her expertise and top tips.
What do we need to consider before buying an investment property?
Buying an investment property is like buying a business, so you need to treat it like one. It’s important to have a good understanding of the law affecting property to avoid issues arising with tenants, and ensure you have money set aside for property upkeep. Things can go wrong, and if you don’t have any funds to draw on to resolve these, you can come into problems.
What makes a good investment property?
Properties close to public transport and local amenities are a great start. School zones are also really important for family homes. Look for a solid property that’s warm, light and has all the basics. Don’t be drawn to anything with quirky features - opt for something simple with neutral colours to ensure wide appeal.
Other enticing features include open plan living and great indoor/outdoor flow. A garage is always a bonus, as are good working ovens, dishwashers and 2 bathrooms. Properties available to tenants with pets also generate much more interest. Don't be too concerned about homes with small lawns - a garden equals upkeep, so this may be off-putting to some tenants.
Should we buy a doer-upper or a home that’s ready to buy?
If you’re looking for a property to do-up, then ensure it’s warm and includes some form of heating. If you're not a renovation expert, then don’t bite off more than you can chew! Opt for something you can do relatively cheaply and comfortably – a new coat of paint, new carpet and a kitset kitchen for example is often all it takes to refresh things.
How do I know what rent to charge?
Make sure you research the rental market in your area. Websites such as trademe.co.nz and realestate.co.nz are great for ascertaining average rental prices based on location, house type, number of bedrooms etc. The Tenancy Services website is also a great source - as this is where all bonds are lodged, the stats are accurate!
Obviously every case is different, and there may be exceptions where a property falls outside the norm – just ensure you can support the rental cost if you charge a little higher. Make sure the price is realistic and reflects the location and the property itself.
Shall I look after my property myself or use a Professional?
Definitely use a professional – it’s the best way to protect you and your assets! Property Management companies are governed by the Residential Tenancies Act, so we have a thorough understanding of all law affecting property. We assess homes before they’re rented out to check everything ticks all the boxes – we simply won’t take on a property if things aren’t legit.
Landlords need to be available 24/7… yes, even for issues that arise in the night! As a Property Development company, we have sound relationships with a large range of tradespeople. They come highly recommended, and often offer our clients better prices as we use them all the time. And if you’re planning on being out of the country for more than 21 days, you’re required by law to appoint somebody to look after your property in your absence.
Rent (or the lack of) from tenants can also sometimes be an issue. We monitor rent daily, and follow a process to sort out any missed payments. A lot of private landlords don't do this as they find themselves too connected with the tenant – this is when things can get out of hand. As professionals, we ensure everything is very much in check.
KIWI CLASSIC DO-UP + GENEROUS SITE = OPPORTUNITIES AHEAD!
Looking for a renovation or development project to sink your teeth into? Our 'Home of the Week' this issue is this solidly built 1970's Kiwi do-up in Glenfield! Sitting proudly on a massive 782m2 site, there's ample potential for further development.
This is a great future home for families - offering 4 bedrooms, 2 living rooms and a downstairs rumpus room/workshop... not to mention the spacious lawn for the kids and pets to play in!
Newly carpeted with a fresh coat of paint, this home is full of potential and won't last long. Click here to find out more - or better still, just give me a call.
My team and I have some exciting listings on the go, that we'd love to share with you. Whether you're looking for a family home, a do-up, apartment living, or even a newly developed section, we've got a range of options in the North Shore, as well as over the bridge.